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John Morfey, of Stephen George and Partners, said: “Leicester city centre is undergoing widespread transformation, with regeneration projects in the cultural, business and waterside quarters.

“The station and Stibbe sites represent an important part of the jigsaw.

“Having lain neglected for so long, the Masterplan which we have designed with the landowner – Charles Street Buildings – breathes new life into the area with new buildings and a public space which will add to Leicester's developing sequence of squares.”

Open space - a view of the proposed public square (Image: Stephen George & Partners)

The former Stibbe site will be redeveloped as a new 43,000 sq ft office block, together with a 152-bed Novotel hotel and 100 bed Adagio ‘apartment hotel’.

The architects have also unveiled plans to refurbish the station involving the preservation of its glass canopy and front facade.

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A spokesman said: “At the heart of the proposal is a new traffic-free public space, which will include part of Great Central Street so that the refurbished station becomes integral to the development.”

The masterplan also involves creating a new pedestrian ‘super-crossing’ of Vaughan Way, linking the development directly to the city centre.

Highways bosses intend to create the crossing so pedestrians can safely navigate six lanes of traffic on the inner ring road, near Highcross shopping centre.

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The city council has said the work will take place in conjunction with developers, and will be similar to the one that already spans the inner ring road near Leicester railway station at the top of Granby Street.

Mr Morfey said: “The development of this site, with the pedestrian ‘super-crossing’ of Vaughan Way – and the continuation of this route to the Great Central Station – provides a key link between the city centre and the Waterside Regeneration Area.”

Earlier this year, members of the public were given the chance to view a Roman mosaic from the remains of a grand Roman house discovered under the former Stibbe factory.

A Roman mosaic was discoved at the former Stibbe factory site (Image: Will Johnston)

More than 3,000 visitors flocked to see the work carried out by University of Leicester archaeologists during April and May.

The mosaic has since been lifted and moved to a safe location for conservation work to continue.